Error - You must set up periods for the fixed asset calendar

If you have created a General Journal for a fixed asset and while posting the journal you are getting following error “You must set up periods for the fixed asset calendar Calendar.” Than you can try following

You can try to give that setup in GL > Setup > Fiscal Calendar if It did not contains periods.

If It was originating due to wrong value assigned to Depreciation field in Depreciation profiles then this should be same as setup for Calendar value for value model associated with fixed asset.